Beyer, Andreas; Gaspar, Vítor; Gerberding, Christina; … - Center for Financial Studies - 2009
Bundesbank monetary policy strategy contributed to this success. We analyze the strategy as it was conceived, communicated and … policy over the period 1975-1998. We compare the Bundesbank's monetary policy rule with those of the FED and of the Bank of … expectations. We derive an interest rate rule and show empirically that it approximates the way the Bundesbank conducted monetary …